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unvollkommener marktincomplete marketfinancial marketequilibrium theoryphysical capitalhuman physicalwelfare analysisfinancial marketspareto efficiencyeconomies incompletesunspot equilibriapareto optimumhuman capital investmentincomplete financialinvestments humanequilibria characterizedrandom matchingmehrsektoren modellmultisectoral modelconstrained paretosteady stateskill sectoragents sectorsasymmetric informationwelfare excessexcess volatilityvolatility exchangelabor marketsasymmetrische informationpareto inefficiencyinefficiency economiesinvestments educationeducation welfarewelfare sectorsector randommatching economyincome taxestaxes subsidiessubsidies educationeducation investmentshuman capitalequilibria economiesproperties equilibriaequilibria constrainedopen setssets economiescharacterized overeducationtotal expectedexpected surplusincome taxwelfare improvinglabour supplysuitable restrictionsrestrictions parametersnumeraire assetswelfare economicsallgemeines gleichgewichtgeneral equilibriummonetary theoryallocative efficiencytax effectsset sunspotprovide conditionsequilibrium allocationscapital efficiencymatching modeloptimally investinvest timetime realreal resourceseducation genericallystate equilibriumstrong sense
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